Render (RNDR) Mid-Term Targets Revealed by Cryptosahintas as Grayscale Inclusion and Active Address Surge Boost Optimism

Cryptosahintas, a well-known macro analyst, has expressed his positive outlook on Render (RNDR), one of the major AI tokens.

Macro analyst Cryptosahintas is bullish on Render (RNDR), a major AI token, and his analysis suggests promising mid-term technical possibilities.

Cryptosahintas shared a chart analysis, highlighting RNDR’s potential for a price surge if it follows previous price patterns. He has identified three possible price targets, with the highest projection indicating a potential surge into the $36 range.

Render Token / RNDR

Mid Term Target 36$

Technical view looks positive

Similarity is almost same

Bull formation is active… $Rndr #Rndr #Render pic.twitter.com/2whFlUAOge

— Cryptosahintas (@Cryptosahintas) July 17, 2024

Cryptosahintas analysis comes amid Grayscale’s inclusion of RNDR in its AI Fund and a surge in active addresses, boosting optimism for the token.

On the other hand, on-chain analyst Ali noticed a massive surge in Render’s daily active addresses, reaching the highest level since its launch. This surge is likely related to the upcoming swap of all RNDR tokens for RENDER.

Moreover, last week, the Render Network reported a 17.7% increase in the number of frames rendered in Q1 2024 compared to Q1 2023. At the time of writing, the RNDR token is trading at $6.70, showing a 3.11% gain over the last 24 hours and a market cap of $2.62 billion.

As covered earlier by crypto.news, another major player in the AI space, Bittensor’s AI network has advanced with the Masa subnet. This breakthrough introduces the network’s first dual-token incentive structure, which is set to integrate with a Masa subnet and anticipates attracting over 1.5 million users.

The increasing attention and technical advancements in both Render and Bittensor highlight the growing significance of AI tokens within the broader cryptocurrency market. As the sector continues to expand, these tokens are likely to garner greater attention from investors and analysts.